QuantumScape (NYSE:QS) Trading 5.1% Higher – Here’s What Happened

Shares of QuantumScape Co. (NYSE:QSGet Free Report) were up 5.1% on Tuesday . The stock traded as high as $4.97 and last traded at $4.97. Approximately 3,475,278 shares traded hands during trading, a decline of 61% from the average daily volume of 8,828,151 shares. The stock had previously closed at $4.73.

Wall Street Analyst Weigh In

QS has been the subject of several recent analyst reports. Truist Financial restated a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating for the company. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, QuantumScape currently has a consensus rating of “Hold” and an average target price of $6.26.

Read Our Latest Research Report on QS

QuantumScape Stock Up 3.8 %

The firm has a market cap of $2.52 billion, a P/E ratio of -5.23 and a beta of 4.60. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The firm’s fifty day moving average is $5.47 and its 200 day moving average is $5.76.

QuantumScape (NYSE:QSGet Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the business earned ($0.23) earnings per share. As a group, equities research analysts anticipate that QuantumScape Co. will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In related news, insider Michael O. Mccarthy III sold 106,084 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $5.90, for a total transaction of $625,895.60. Following the completion of the transaction, the insider now directly owns 1,181,884 shares in the company, valued at $6,973,115.60. This represents a 8.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total value of $27,710.31. Following the sale, the director now owns 2,590,583 shares in the company, valued at $12,978,820.83. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 713,986 shares of company stock valued at $4,148,984. 12.03% of the stock is currently owned by corporate insiders.

Institutional Trading of QuantumScape

A number of hedge funds have recently made changes to their positions in the company. Swiss National Bank grew its holdings in QuantumScape by 9.3% during the 1st quarter. Swiss National Bank now owns 678,800 shares of the company’s stock worth $4,270,000 after acquiring an additional 58,000 shares during the last quarter. Vanguard Group Inc. raised its position in QuantumScape by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after purchasing an additional 656,646 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in QuantumScape by 38.5% during the 1st quarter. Edgestream Partners L.P. now owns 298,643 shares of the company’s stock worth $1,878,000 after buying an additional 82,951 shares during the period. Westwood Holdings Group Inc. bought a new stake in shares of QuantumScape in the 1st quarter valued at about $82,000. Finally, Manhattan West Asset Management LLC increased its stake in shares of QuantumScape by 142.7% in the first quarter. Manhattan West Asset Management LLC now owns 68,031 shares of the company’s stock valued at $428,000 after buying an additional 40,005 shares during the period. 29.87% of the stock is owned by institutional investors and hedge funds.

QuantumScape Company Profile

(Get Free Report)

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.

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